Wells Fargo fires workers over fake keyboard activity
What specific actions did Wells Fargo take against employees found simulating keyboard activity?
Wells Fargo took specific actions against employees found simulating keyboard activity by either firing them or accepting their resignations. The firm disclosed these decisions in broker filings with the Financial Industry Regulatory Authority (Finra). More than a dozen people were reportedly affected, with some being fired and others resigning voluntarily after being confronted with the claims. Most of the affected employees had worked for the firm for less than five years.
How did Wells Fargo discover the employees' fake keyboard activity?
Wells Fargo has not provided specific details on how they discovered the employees' fake keyboard activity. The bank disclosed the dismissal of staff in broker filings with the Financial Industry Regulatory Authority (Finra), but did not respond to questions about how the alleged issue was discovered. It is also unclear whether the fake keyboard activity was related to remote work.
What are the new U.S. regulations regarding the inspection of home offices used by brokers?
The new U.S. regulations regarding the inspection of home offices used by brokers state that such offices need to be inspected every three years. These rules came into effect recently and are aimed at ensuring compliance and maintaining standards as more people continue to work from home. The Financial Industry Regulatory Authority (FINRA) has also adopted new rules for its remote inspections pilot program and to treat home offices as "residential supervisory locations12." The Securities and Exchange Commission approved these rules in November2. The new rules "reflect today’s hybrid work environment while still providing critical investor protections," according to FINRA.